April 20 - 11:04
Alibaba to make $28 billion cloud investment
Alibaba says it will plough $28 billion into cloud computing over three years. Demand for its cloud services have surged during the coronavirus pandemic. The money will be spent on semiconductors, operating systems and data centres. This news signals that Alibaba may be moving away from retail and getting deeper into business services. Alibaba Cloud currently has 63 global availability zones.
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